Alt Goes Mainstream: The Latest on Alternative Investments, WealthTech, & Private Markets

How Shannon Saccocia, the CIO of $67B AUM Neuberger Berman Private Wealth, thinks about the changing role of alternatives in client portfolios

Nov 22, 2023

Shannon Saccocia, CIO of Neuberger Berman Private Wealth, discusses the evolving landscape of private markets. Topics include the definition of alts, changing nature of asset allocation, evolution of fees, importance of geopolitics, secondaries as onramp, fiduciary role, challenges of productization, engaging with the changing wealth channel, forward thinking in allocating alternatives, changing role of exits, exploring unique alternative investments.

59:52

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Shannon Saccocia

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Quick takeaways

Understanding true alternatives and their non-correlated role in portfolios is crucial.

Navigating the changing world of alternatives requires acknowledging potential risks, focusing on client needs, and considering emerging opportunities like public-private partnerships in infrastructure investments.

Deep dives

Private Wealth and the Evolution of Alternatives

The podcast episode features Shannon Tacogio, the CIO of New Burger Berman private wealth, discussing the evolution of private markets and the changing landscape for allocators and GPs. She emphasizes the importance of understanding true alternatives and their non-correlated role in portfolios. The conversation highlights the significance of macro and geopolitics in asset allocation and the potential opportunities in secondaries as an on-ramp for high net worth investors. Shannon also discusses the challenges and opportunities in fee structures, the importance of diversification, and the potential impact of transparency in private markets. Overall, the episode provides insights into how the wealth channel and institutions can navigate the changing world of alternatives.

Introduction

2min

Geopolitics, Secondaries, and Getting Comfortable with Discomfort

2min

The Meaning of Fiduciary in the Context of Alternative Investments

6min

Challenges and Strategies for Productization in the Wealth Channel

20min

Engaging with the Changing Wealth Channel and Seeking Knowledge for Robust Client Solutions

2min

Forward Thinking in Allocating Alternatives

7min

The Changing Role of Exits in Private Markets

18min

Exploring Unique Alternative Investments and Speculating on Future Opportunities

3min

Today’s show brings us inside the mind of a top allocator and CIO in the private wealth world.

We talk with Shannon Saccocia, the CIO of Neuberger Berman Private Wealth, a division of NB that has almost $70B of assets under management. With over 24 years of experience, Shannon brings a wealth of knowledge on private markets to bear. At NB Wealth, she works closely with investment leadership to establish market views, asset allocation, and portfolio recommendations tailored specifically for NB Private Wealth clients.

Prior to joining NB, she was the CIO for 5 years at SVB Private and Boston Private Wealth, which SVB acquired in July 2021. In this capacity, she oversaw all investment management functions, including portfolio construction, asset allocation, third-party manager selection, equity and fixed income portfolio management, performance and trading.

Shannon and I had a fascinating conversation on the evolution of private markets and how both allocators and GPs can think about this changing landscape. We discussed:

The definition of alts and what “true alternatives” are.
The changing nature of asset allocation and why alts are such a critical part of an investors’ portfolio.
The evolution of fees and what investors should be paying for.
Why specialized managers can win.
The importance of geopolitics and macro in a world where deglobalization has an increasing impact on asset allocation.
Why secondaries are an important onramp to private markets for the HNW channel.
What it means to get comfortable with being uncomfortable as an investor.
What the institutional investor world can learn from HNW investors.

Thanks Shannon for coming on the Alt Goes Mainstream podcast to share your thoughts and wisdom on private markets.

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Alt Goes Mainstream: The Latest on Alternative Investments, WealthTech, & Private Markets

How Shannon Saccocia, the CIO of $67B AUM Neuberger Berman Private Wealth, thinks about the changing role of alternatives in client portfolios

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Private Wealth and the Evolution of Alternatives

Balancing Comfort and Risk in Private Markets

The Role of Secondaries and Litigation Finance

Remember Everything You Learn from Podcasts